Cassava Prices (Q1 2022)
As the global demand for cassava increases, the Thailand’s cassava market is projected to prosper amid rise in cereal prices. In March 2022, the price of fresh cassava root was around 2.5-2.6 THB/kg. The prices for cassava are projected to increase with an increase in demand. The global cassava root production is expected to increase to 302 MMT. Thailand has an estimated domestic demand of 12.7 MMT for cassava root while exports are estimated at 29.7 MMT.
Cassava root prices were in the range of 153-163 USD/MT in Brazil in the final week of March.
Cassava Prices (Q4 2021)
In the first quarter of this year, Thailand's Industry and Trade Information Center raised the value floor of cassava flour from 475 USD/MT to 480 USD/MT, resulting in a price increase from 0.41 USD/kg to 0.42 USD/kg. Other merchants, such as the Thai Yam and Tapioca Factories Association, increased the price of exported chips by 0.5 USD/kg at the same time. On the other hand, the price of raw cassava remained steady at roughly 0.075-0.080 USD/kg.
In December 2021, tuber prices in the United Kingdom were projected to be between 1220 USD/MT and 1290 USD/MT. Cassava starch was frequently used in the textile industry for finishing, sizing, and printing because of its flexibility, abrasion resistance, and ability to create a link with the fibre.
In the fourth quarter of 2021, the tuber market price in Brazil gradually increased, reaching 124 USD/MT in December, from 102 USD/MT in October. After a period of low productivity, the price increased as demand grew.
Cassava Prices (Q1-Q3 2021)
The tuber’s business grew as a result of urbanisation, increased working population, and rising family incomes, while the global food sector expanded significantly, particularly in emerging economies like India and China. This aided the growth of the industry by raising demand for ready-to-eat foods.
For the first three quarters of 2021, the average Brazilian market prices of the tuber were in the range of 78-102 USD/MT. Since the tuber is a well-established product in South American countries, consumption patterns and total market demand were steady. Latin America's population growth, as well as expanding food industry demand, were the key drivers of the market in 2021.
Cassava Prices Overview 2020
In 2020, the cassava market price in Vietnam was roughly 94 to 98 USD/MT, while the price range in Indonesia was 68 to 72 USD/MT. Thailand ranked fifth in exports in 2020, with a 6.32 percent global share, a value of USD 5.77 million, and a volume of 4.84 MT. It was ranked 19th in 2020 imports, with a 0.46 percent share valued at USD 578.19 thousand and a volume of 92.96 thousand MT.
Average manioc import prices in the United Kingdom were 1170 USD/MT in the start of 2020. Manufacturers were attempting to develop and invent clean-label meals and food ingredients, which increased demand for wheat as a natural product in the worldwide food and beverage industries. Technological developments, industrial expansion, and increased population growth fueled global demand for flour.
Manioc starch prices in the United States were 668 USD/MT in January, 640 USD/MT in February, and 692 USD/MT in March of 2020. The global cassava flour market expanded as a result of rising consumer desire for a healthy lifestyle, which led to increased consumption of healthy food products and food ingredients. Furthermore, market expansion was fueled by increased demand for packaging innovation, convenience meals, and an expanding population willing to pay a premium for healthy food.
Manioc market prices in Brazil fell from 114 USD/MT in January to 82 USD/MT in February, and then to 76 USD/MT in March of 2020. While prices rose to 100 USD/MT in October, they fell down to 87 USD/MT in November and stayed rangebound until the end of the year. Government-imposed lockdowns and transportation restrictions hampered various food industries, causing the market to suffer from a drop in demand and consumption.
Procurement Resource provides latest prices of Cassava. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
Procurement Resource provides prices of Cassava for several regions around the globe, which are as follows:
Cassava is a woody shrub which is native to South America and belongs to the spurge family, Euphorbiaceae. Although a perennial plant, Cassava is widely cultivated as an annual crop in tropical and subtropical regions owing to its edible starchy tuberous root, which is one of the richest sources of energy (carbohydrates). Cassava is mostly consumed in boiled form; however, its substantial quantities are utilised to extract cassava starch. Its starchy roots can also be processed into cassava chips, cassava flour, and cassava pellets. Further, it is the third most significant crop of the tropical region after rice and maize.
Being one of the most drought-tolerant crops, Cassava is capable of growing on marginal soils. After the cultivation and maturing of Cassava, it is harvested by hand. The upper parts of the stems containing leaves are plucked off before harvest. The method involves the raising of the stem’s lower part and pulling the roots out of the ground. These roots are then separated from the base of the plant to obtain Cassava roots.
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The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).